Summit Materials LLC 401(k) Review & Grade
Summit Materials 401(k) Retirement Plan
Denver, COConstruction5,949 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,404Employer $ per active participant
$3,735Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$468.9MNet plan assets, end of year
$64,735Average balance per account
Score breakdown
- Employer generosity27.3 / 5055th percentile for employer $ per participant
- Low cost10.9 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 44th |
| Employee saving | 37th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($224 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,112 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Summit Materials put in about $2,404 per active participant, more than the typical peer ($1,965). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $14,302,864 |
| Participant (employee) contributions | $22,219,584 |
| Other contributions (incl. rollovers in) | $1,637,867 |
| Administrative expenses paid from the plan | $571,395 |
| Investment advisory & management fees | $272,740 |
| Other admin expenses | $1,500 |
| Benefits paid out | $51,858,167 |
| Net assets, start / end of year | $302.1M / $468.9M |
| Active participants, start / end of year | 5,333 / 6,565 |
| Participants with account balances | 7,243 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $272,740 reported compensation |
| Empower Annuity Insurance Company | $261,651 reported compensation |
| Bdo USA, LLP | $35,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008141300NAL0003072003001, received 2025-10-08, EIN 26-4138486, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.